Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,465-19,525 levels and a strong buy zone at 19,365-19,435 levels on Friday, September 29. For the Nifty Bank, he expects support at 44,000-44,200 levels and a strong buy zone at 43,600-43,825 levels.

Here's how Anil Singhvi sums up the market setup:

  • Global: Positive
  • FII: Negative
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Neutral
  • Trend: Positive

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Singhvi sees a higher zone coming in at 19,550-19,635 levels and a strong sell zone at 19,675-19,765 levels for the Nifty. For the banking index, he expects a higher zone at 44,400-44,525 levels and a profit-booking zone at 44,600-44,750 levels. 

ANIL SINGHVI MARKET STRATEGY  

Singhvi expects strong support to emerge at 19,250-19,350 and 43,600-43,800 levels for the Nifty and the Nifty Bank, and believes that only closing levels above 19,800 and 45,000 should be considered the first sign of a recovery.

  • FII index long positions at 31 per cent vs 45 per cent the previous day
  • Nifty put-call ratio (PCR) at 0.98 vs 1.07
  • Nifty Bank PCR at 0.76 vs 0.83
  • India VIX up 10 per cent at 12.82

For existing long positions:

  • Nifty intraday stop loss at 19,400 and closing stop loss at 19,500
  • Nifty Bank intraday and closing stop loss at 44,000

For existing short positions:

  • Nifty intraday and closing stop loss at 19,800
  • Nifty Bank intraday and closing stop loss at 44,800

For new positions in Nifty:

  • The best range to buy Nifty is at 19,435-19,500 with a stop loss at 19,350 for targets of 19,550, 19,600, 19,635, 19,675, 19,700 and 19,735
  • The best range to sell Nifty is at 19,665-19,735 with a stop loss at 19,800 for targets of 19,635, 19,600, 19,550, 19,525, 19,500 and 19,465

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 43,825-44,000 with a stop loss at 43,600 for targets of 44,125, 44,225, 44,300, 44,400, 44,525 and 44,600
  • The best range to sell Nifty Bank is at 44,600-44,750 levels with a stop loss at 44,825 for targets of 44,525, 44,400, 44,300, 44,250, 44,125 and 44,000

Stocks in F&O ban:

  • Out of ban: Delta Corp, India Cements
  • New in ban: None
  • Already in ban: None

Stocks of the day:

Sell Navin Fluorine shares in the cash segment with a stop loss at Rs 4,445 for targets of Rs 4,200, Rs 4,075, Rs 4,000 and Rs 3,930

  • Radhesh R Welling has resigned from the post of MD

Sell MCX shares in the cash segment with a stop loss at Rs 2,120 for targets of Rs 2,025, Rs 2,000 and Rs 1,950

  • New platform suggested to be postponed for now
  • Suggestions given while the case is pending in the Madras High Court
  • MCX has accepted Sebi’s suggestion

What to expect in the October series:

  • The October series has seen strong moves in nine out of the past 10 years
  • The series has seen positive moves for four back-to-back years, from 2019 to 2022
  • FII index long positions are at 31 per cent, lowest since April
  • The market has begun new series with light positions

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